| THE GOVERNMENT No. 69/2014/ND-CP | THE SOCIALIST REPUBLIC OF VIETNAM Independence – Freedom – Happiness Hanoi, July 15, 2014 |
Decree
On state economic groups and state corporations
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the November 29, 2005 Enterprise Law;
At the proposal of the Minister of Planning and Investment,
The Government promulgates the Decree on state economic groups and state corporations.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation
This Decree provides:
1. The establishment and re-organization of state economic groups and state corporations and termination of operation in the form of state economic group or state corporation (below referred to as economic groups or corporations).
2. The organization, operation, management and administration in economic groups and corporations.
3. The management and supervision by the state owner of economic groups and corporations.
Article 2. Subjects of application
1. This Decree applies to:
1. Economic groups and corporations with parent companies organized in the form of state-owned single-member limited liability company or with parent companies being joint-stock companies or limited liability companies with two or more members with controlling shares or capital contributions of the State.
2. Organizations and individuals related to the establishment and re-organization of economic groups and corporations, termination of operation in the form of economic group or corporation, and management and supervision by the state owner of economic groups and corporations.
Article 3. Interpretation of terms
In this Law, the terms below shall be construed as follows:
1. Main business lines of an enterprise means the business lines which are determined by the enterprise’s owner on the basis of the enterprise’s investment objectives and development strategy and assigned to the enterprise to conduct upon its establishment and throughout its operation.
2. Business lines related to the main business lines of an enterprise (below referred to as related business lines) means the business lines supporting, or deriving from, the main business lines on the basis of the conditions and advantages of the main business lines or utilizing the advantages and strengths of the main business lines and directly serving the main business lines.
3. Business lines unrelated to the main business lines of an enterprises (below referred to as unrelated business lines) means the business lines neither deriving nor developed from the main business line or related business lines.
4. Related subjects of a parent company means organizations and individuals that have direct or indirect relations with the parent company as prescribed in Clause 17, Article 4 of the Enterprise Law.
5. Controlling rights of an enterprise over another enterprise include at least one of the following rights:
a/ Right of the sole owner of the other enterprise;
b/ Right of shareholders that own controlling shares or capital contributors that own controlling capital contributions at the other enterprise;
c/ Right to directly or indirectly appoint a majority or all members of the Board of Directors or Control Board and general director (director) of the other enterprise;
d/ Right to directly or indirectly decide on the approval, amendment and supplementation of the charter of the other enterprise;
dd/ Right to directly or indirectly decide on business strategies and plans of the other enterprise;
[1] Công Báo Nos 727-728 (01/8/2014)
